I’m buying a 40 unit apt building and the seller is financing 80% of the purchase. Is it a good idea to still get a third party appraisal done even though I don’t need it for the financing?
I guess the appraisal would be a good idea if you didn’t know how to valuate commercial real estate and are interested in knowing if your getting the property for a fair price.
Being owner financed it won’t need an inspection either, still planning on getting one right? I would definitely recommend it…